For the first time ever, the National Audit Office will be represented on the Auditors Board of the
European Stability Mechanism (ESM) which was set up as an international financial institution by
the euro area Member States to help euro area countries in severe financial distress. It was established
on 27 September 2012 essentially to safeguard and provide instant access to financial assistance
programmes for eurozone member states that end up in financial difficulty, with a maximum lending
capacity of €500 billion.
Mr Charles Deguara, Auditor General, nominated NAO’s Deputy Auditor General, Mr Noel
Camilleri, to represent the Office on the Auditors Board. This nomination was duly approved by the
ESM and consequently during the sitting held in the ESM Headquarters in Luxembourg, on 8th
October 2018 Mr Camilleri was formally appointed to this prestigious post. Considering his previous
extensive experience as Accountant General as well as his former appointment as Malta’s
representative on the European Investment Bank (EIB), there was no doubt that he has the right
credentials to carry out his new duties on this Auditors Board successfully.
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